If the Indians hadnt spent the $24. In 1626 Peter Minuit, first governor of New Netherland, purchased Manhattan Island from the Indians for about $24. Assume for simplicity a uniform rate of 7% from 1626 to the present, and suppose that the Indians had put their $24 at [compound] interest at that rate . What would be the amount now, after 280 years? 24 x (1.07)280 = more than 4,042,000,000.The latest tax assessment available at the time of writing gives the realty for the borough of Manhattan as $3,820,754,181. This is estimated to be 78% of the actual value, making the actual value a little more than $4,898,400,000.The amount of the Indians money would therefore be more than the present assessed valuation but less than the actual valuation.

I do not believe that a moral philosophy can ever be founded on a scientific basis. The valuation of life and all its nobler expressions can only come out of the souls yearning toward its own destiny. Every attempt to reduce ethics to scientific formulas must fail. Of that I am perfectly convinced.

In 'Science and God: A Dialogue', Forum and Century (June 1930), 83, 374. Einsteins dialogue was with James Murphy and J.W.N. Sullivan. Excerpted in David E. Rowe and Robert J. Schulmann, Einstein on Politics: His Private Thoughts and Public Stands on Nationalism, Zionism, War, Peace, and the Bomb (2007), 230. The book introduces this quote as Einsteins reply when Murphy asked, in the authors words, how far he thought modern science might be able to go toward establishing practical ideals of life on the ruins of religious ideals.

The highest principles for our aspirations and judgments are given to us in the Jewish-Christian religious tradition. It is a very high goal which, with our weak powers, we can reach only very inadequately, but which gives a sure foundation to our aspirations and valuations.

The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivitiesthat is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the futurewill eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. Theres a problem, though: They are dancing in a room in which the clocks have no hands.

In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion.
(1987) -- Carl Sagan